Shoulder Innovations, Inc. (NYSE:SI) Sees Large Increase in Short Interest

Key Points

• Short interest rose 27.1% to 391,514 shares as of March 31, equal to 1.9% of the stock and a days‑to‑cover ratio of 2.6.
• Insider buying: CEO Robert Ball purchased 2,200 shares and CFO Jeffrey Points bought 2,000 shares in mid‑March, modestly increasing insider ownership to 1.71%.
• The company reported quarterly EPS of ($0.38) beating estimates but remains unprofitable with negative margins; analysts maintain a consensus "Moderate Buy" rating and a $20.80 price target.

Shoulder Innovations, Inc. (NYSE:SI - Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 391,514 shares, an increase of 27.1% from the March 15th total of 307,956 shares. Based on an average daily trading volume, of 148,383 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.9% of the company's stock are short sold.

Shoulder Innovations Stock Performance

Shares of SI stock traded down $1.06 during trading hours on Thursday, reaching $14.11. 51,132 shares of the company's stock were exchanged, compared to its average volume of 78,784. Shoulder Innovations has a fifty-two week low of $10.92 and a fifty-two week high of $17.94. The stock has a market capitalization of $291.37 million and a P/E ratio of -0.07. The business has a fifty day moving average price of $13.95 and a 200-day moving average price of $13.87. The company has a quick ratio of 9.55, a current ratio of 11.07 and a debt-to-equity ratio of 0.11.

Shoulder Innovations (NYSE:SI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 10th. The company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.04. The company had revenue of $14.42 million during the quarter, compared to analyst estimates of $12.69 million. Shoulder Innovations had a negative return on equity of 37.68% and a negative net margin of 85.29%. Analysts predict that Shoulder Innovations will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Robert Joseph Ball bought 2,200 shares of the firm's stock in a transaction on Friday, March 13th. The stock was purchased at an average price of $15.18 per share, with a total value of $33,396.00. Following the completion of the transaction, the chief executive officer directly owned 278,866 shares of the company's stock, valued at $4,233,185.88. This trade represents a 0.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jeffrey S. Points bought 2,000 shares of the firm's stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $15.00 per share, with a total value of $30,000.00. Following the transaction, the chief financial officer directly owned 70,785 shares of the company's stock, valued at approximately $1,061,775. This trade represents a 2.91% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 5,200 shares of company stock valued at $78,236 in the last ninety days. Company insiders own 1.71% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SI. Deerfield Management Company L.P. bought a new stake in Shoulder Innovations in the third quarter valued at $6,056,000. Alyeska Investment Group L.P. bought a new stake in shares of Shoulder Innovations during the third quarter worth $5,667,000. TimesSquare Capital Management LLC bought a new stake in shares of Shoulder Innovations during the third quarter worth $4,799,000. Federated Hermes Inc. bought a new stake in shares of Shoulder Innovations during the third quarter worth $2,510,000. Finally, Vanguard Group Inc. bought a new stake in shares of Shoulder Innovations during the third quarter worth $1,836,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BTIG Research upped their target price on Shoulder Innovations from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, March 11th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Shoulder Innovations in a research report on Friday, January 9th. Finally, Weiss Ratings reiterated a "sell (e)" rating on shares of Shoulder Innovations in a report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.80.

Shoulder Innovations Company Profile

Shoulder Innovations NYSE: SI is a medical device company focused on the design, development and commercialization of shoulder implant systems and related surgical instruments for orthopedic surgery. The company’s product portfolio includes modular shoulder prostheses, humeral and glenoid components, and instrumentation kits designed to facilitate both primary and revision shoulder arthroplasty procedures. Emphasizing a patient-centric approach, Shoulder Innovations works to offer implant solutions that aim to restore mobility and reduce post-operative complications.

In addition to its core implant offerings, Shoulder Innovations provides comprehensive clinical support and training programs for surgeons and operating room teams.

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